Tuesday, April 21, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets are lower this morning following a historic day in the oil markets yesterday where prices plunged to -$37 a barrel for the first time in history. Asian stocks settled the session mostly lower.
Technicals
The SPY pushed higher early in yesterday’s session and then drifted lower in the afternoon. Support will first be found at $275.52, $271.3, then the 20EMA at $271.29, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at ascending resistance at $281.50, $288, gap fill at $290.23, and the 200SMA at $300.76.
Small-Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
PM, IBM, LH
Economic Calendar
10:00 Existing Home Sales
Notable Earnings Before Open
Coca-Cola (KO) – EPS Est. $0.44
Notable Earnings After Close
Chipotle Mexican Grill (CMG) – EPS Est. $2.46